USDMXN Starts the Session With a Small Loss

USDMXN CHART PRICE – USDMXN DAILY

After an aggressive uptrend the US dollar lost some ground to the mexican peso only to recover those loses very quickly, in today’s session the peso is gaining ground but nothing significant, there are fundamental factors that might affect the exchange rate, presidential debates will affect this strongly, bases on fundamental factors it is estimate that the US dollar could get stronger in the upcoming days,however it currently trades very close to the upper bollinger band which indicate that the price is relatively high, while the relative strength index is almost on an overbought status currently at 61%, there is still some room for a long trade but I would not be too confident, i’m gonna wait a few hours to see how the price behaves in order to make a trading decision.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.